My pension comparison that came with the new proposal letter from Charlie Maunder doesn't look too bad for me (someone who expected to work on until 65 with another company after retiring from BA at 55).
My break even age is 56.3 years under NAPS III and 58.0 years under NAPS IV (into which I'd be paying less right now I believe).
Now I don't trust the company at all on such matters, so I will wait for a more detailed explanation from BALPA (the illustration states that it doesn't include the year I transferred into the scheme or fact that I've been paying 45ths instead of 52nds for the past five years).
Anyway, having joined BA at age 40, my final pension at 65 under either scheme looks like it's going to be more than double what it would have been at 55 and I'll still be working in a decent job for that extra ten years too.
So it ain't too bad for someone who sees his pension as retirement income rather than a cash cow for the last ten years of my employment. I know what the leglislation is designed to allow (continue working whilst drawing the pension you accrued until age 55), but that's not what it should be about IMHO. If I've still got a good job, why would I need my pension? I genuinely don't see it as too bad...
But...
The reason for my posting though is to state that I will still vote to strike if BALPA recommend it. Not just because of pensions... But because this is the line in the sand for me in respect of the slide in our industry's terms and conditions. I do not want the Managers to keep getting richer as we get poorer, even if the outcome isn't too dire for me personally bearing in mind my expectations.
I will jump at any opportunity to collectively give the company a bloody nose. I believe that the time has come to show them that we cannot be pushed around any more the way we have been since 911. I have given enough since then and it is time to start giving me something back for the sacrifices (against all the odds) I have made to help keep the company afloat for the past five years.
The company's on a huge winner already with BALPA's very reasonable compromise proposal, but still they want more. If we let them get away with it it'll probably be Bidline next (and I'm on Carmen right now but will still fight tooth and nail to protect Bidline).
I think we need to insist on an improvement to BARP too and even if everything else BALPA have proposed is accepted, I would still vote to strike if the BARPers aren't looked after.
Anything to let the company know that enough is enough.